Bond market
Turkey property is a ‘Prime Destination’ for Investment
Turkey has been described as a "prime" destination for property investment. Turkey's infrastructure has evolved to provide foreign buyers with the support and access necessary for development opportunities to become attractive. The Turkish government is focusing on developing the country's tourist industry to reach 15% of its Gross Domestic Product by the year 2020.
Turkey’s infrastructure has made this destination more accessible, with new roads and enlarged airports being built and existing road and air routes being expanded and has made property in Turkey more popular. This popularity is now evident in Istanbul where Turkey property prices have been increasing steadily for a number of months.
These rises have been underpinned by high tourist numbers and a stable economy, as well as efforts to keep inflation in check.
With Turkey experiencing unparalleled publicity for its rapidly growing tourism industry, this has helped and continues to fuel the massive demand in Turkey property sales. This is set to continue with Turkey rapidly becoming a dominant competitor in the international tourism market.
Turkish Property values to double:
Turkey property values are set to double in the next three years as the government continues to make improvements to encourage investment, a property sector expert has predicted.
In the last two years, property values in Turkey have increased by 40 per cent, but according to New Turkish Properties, the figure will double before the end of the decade.
The Turkish government have and continue to support the growth by building new roads and motorways and increasing the number of chartered flights in to and away from the country.
The Turkish Government are also offering fantastic interest rates to people buying property in Turkey and with the advent of off-plan mortgages also being encouraged for the later part of 2007, the Turkey property market is set to expand and continue.
Turkey is joining the European Union:
On October 3rd 2005, Turkey started the long road to joining the European Union.
Because the road to EU membership is going to take time, means there are still another 5-10 years before Turkey property prices raise substantially. Prior to EU membership, there are many factors yet to be discussed and many of Turkey’s issues that need to be corrected before incorporation will be seriously considered. However Turkey has some strong backers for its entry and when it does get accepted into the EU, it is reasonable to expect the price of property in Turkey to rise greatly in line with a huge surge in tourism.
Serious Investors look for key indicators when investing in property worldwide and just one of those indicators is the European Union. They are looking for indicators that will increase steady growth. Joining the EU in the future is a major step to financial security in the countries property market.
Is the Property Boom in Turkey?
With the indicators shown on this page, it’s very likely to predict that Turkey is at the beginning of a "property boom". Growth in Turkey property prices can be triggered in two ways, under value of property or demand outstripping supply. Both these factors are presently the situation in Turkey especially in the major investment areas such as Alanya, Bodrum, Antalya....
These figures are strong indication of increasing popularity and demand for European commercial properties, attracting a growing number of investors year-on-year.
The current attraction for investing in property in Turkey is the current value for money. The Turkish property market still offers excellent quality properties at prices that most other locations of a similar calibre could not offer 10 years ago. These prices, combined with the outstanding expected growth and powered by strong market drivers, offer property investors a unique opportunity.
The Economic factors that make ‘Investing in Turkey’ worthwhile.
• Property prices are still lower than equivalent European hot spots
• Cost of living is 1/3rd of that in the UK
• The process for incorporation of Turkey into the EU has started.
• The Mediterranean coast offers an all round season for good holiday rental opportunities.
• Excellent property investment growth is predicted with holiday operators and airlines increasing capacity.
• Low property acquisition and ongoing taxes
• Fastest going economies attracting large corporate investments
• Rich in cultural history and ancient historical ruins
• Excellent road and air networks providing good infrastructure around the country
• Turkey has some of Europe’s attractive and stunning beaches making it a very popular holiday destination
